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AUG 21

Retailing icon Mickey Drexler doubles down

J.Crew's CEO says that this is the worst retail environment he's seen in 40 years in the business. His strategy? Take J.Crew upscale and launch a new brand called Madewell.

FORTUNE, August 21, 2008 — Is now the time for a retailer to go upscale? The guru behind clothier J. Crew thinks that's the right strategy. J. Crew is relatively small - its entire retail square footage would fit into the space of just 13 Sam's Clubs - but CEO Mickey Drexler, the man who made Gap (GPS, Fortune 500) into a pop-culture phenomenon and reinvented retailing icon J.Crew, is closely watched in his industry.

Category: Brand Strategy
Tags: J Crew, Retail

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